Apple issued an investor update on 17th February 2020 and it says that the effects of the corona virus have a material impact on the company bottom line. As a result the company is not expected to meet the revenue guidelines for the second quarter of the year. Hence Apple issued a warning saying that “worldwide iPhone supply will be temporarily constrained.” Closure of stores and reduced retail traffic in China will be an impact as well.

Although all of the iPhone manufacturing partner sites have been reopened the progress is slower than expected. So the manufacturing of iPhones is expected to slow down affecting the revenues worldwide according to Apple.

It is yet to seen the impact of Corona Virus to the upcoming Apple products. Rumored future Apple products include a low-cost followup to the iPhone SE in March priced at about $400, and a new iPad Pros with better cameras during the first half of the year. Bloomberg’s sources report that there could be delays although no change of plan happened yet.

According to Apple they are gradually reopening their retail stores and will continue to do so as steadily and safely as they can. Furthermore they say that its corporate offices and contact centers in China are open.

Apple CEO Tim cook echoed those sentiments in a memo sent to Apple staff. . “I want to thank everyone for their dedication, empathy, understanding, and care,” Cook wrote. “Our paramount concern is with the people who make up Apple’s community of employees, partners, customers, and suppliers in China.”

At the last earnings call at the end of January, Cook said that Apple already had a “wider-than-usual” revenue range for the second quarter due to uncertainty around Corona virus. Still, it seems that that revenue range wasn’t wide enough to account for the growing impact of the public health emergency.

Apple went on to say that they would double the previously announced donation to help the corona virus relief efforts. But they did not gave an exact number out.